The market may be trading lower today but that hasn't stopped one ASX stock from racing higher.
At the time of writing, this stock is up a sizeable 18% to $1.38 thanks to some big news out of the United States.
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Which ASX stock is jumping?
The stock that is getting a lot of love from investors on Wednesday is EBR Systems Inc (ASX: EBR).
It is a Silicon Valley-based medical device company that is dedicated to superior treatment of cardiac rhythm disease. It aims to do this by providing more physiologically effective stimulation through wireless cardiac pacing.
The ASX stock's patented proprietary Wireless Stimulation Endocardially (WiSE) technology was developed to eliminate the need for cardiac pacing leads, which are historically the major source of complications, effectiveness, and reliability issues in cardiac rhythm disease management.
Its initial product is designed to eliminate the need for coronary sinus leads to stimulate the left ventricle in heart failure patients requiring Cardiac Resynchronisation Therapy (CRT). Whereas future products will aim to address wireless endocardial stimulation for bradycardia and other non-cardiac indications.
What's happening?
This morning, the ASX stock announced that it has passed the tenth commercial implant of the WiSE System in the United States.
According to the release, several of these procedures were performed by Dr. Rahul Doshi in HonorHealth, which is one of Arizona's largest non-profit healthcare systems, serving a population of five million people.
This reflects EBR's pilot launch strategy which mirrors the planned LMR by focusing on fewer sites but obtaining a higher utilisation rate.
Commenting on the product and future usage, Dr. Rahul Doshi from HonorHealth said:
The strong clinical evidence from the SOLVE-CRT study was no surprise, as left ventricular endocardial pacing is more physiological than the current epicardial CRT methods. Once reimbursement top-up payments begin, we would look to adopt WiSE immediately in patients who failed lead-based CRT and those considered high risk for a conventional upgrade. Physiologic, leadless pacing is the future!
This sentiment was echoed by the company's president and CEO, John McCutcheon. He said:
Passing the ten-case milestone so soon after FDA approval reflects strong clinical interest in leadless left-ventricular endocardial pacing and underscores the value EBR's novel WiSE System brings for patients who are not well served by conventional CRT. With reimbursement now confirmed for inpatients and preliminary approval received for outpatient settings from October 2025, we are well positioned to expand our footprint and commence our limited market release.
EBR Systems was named as a buy with a lofty $2.25 price target earlier this week by Bell Potter.
